Chapter 25, The Lay of Loddfafnir; Chapter 26, Otter's Ransom; Chapter 27, The Lay of Alvis; Chapter 28, Balder's Dreams Summary and Analysis

At a gathering of men and women in Midgard, Loddfafnir stands and speaks the wisdom he received from looking into the Well of Urd. His speech is full of advice regarding how a man should conduct himself and live his life. At the end of the speech Loddfafnir reveals that he is really Odin in disguise. Odin announces that any who hear and listen will prosper.

Odin, Loki and Honir go exploring and find an otter beneath a waterfall. Loki kills the otter with a stone. The three gods seek lodging with a farmer but the farmer takes offense when he sees the dead otter in Loki's hands. Hreidmar and his...